Construction Equipment Market Report 2023, Share, Size, Trends, Forecast and Analysis 2028

by Zayn Mathew Market Research Reports

According to the latest report by IMARC Group, titled “Construction Equipment Market Share: Global Industry Trends, Size, Growth, Opportunity and Forecast 2023-2028”, the global construction equipment market size reached US$ 182.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 245.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.

Construction equipment is used to make construction processes easier and faster. It is available in different types, depending on the application. For instance, an excavator digs and crushes heavy material on a site, while a paver is employed in road construction for evenly distributing asphalt on the road surface. Presently, due to stringent regulations on noise emissions, several manufacturers are developing eco-friendly equipment as well as integrating telematics and safety technologies to deliver enhanced operational capabilities.

Global Construction Equipment Market Trends:

Increasing investments in infrastructural development, in confluence with a significant rise in commercial construction activities, represents one of the major factors bolstering the market growth. Moreover, the emerging automation trend in construction processes is contributing to the growth of the market. Apart from this, several manufacturers are focusing on upgrading existing equipment into next-generation machines by integrating advanced technologies, such as the internet of things (IoT). This is projected to create a positive outlook for the market.

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Global Construction Equipment Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global construction equipment market. Some of the companies covered in the report include:

AB Volvo

Caterpillar Inc.

CNH Industrial N.V.

Deere & Company

Doosan Infracore

Hitachi Construction Machinery

Komatsu Ltd.

Liebherr-International AG

The report has segmented the market on the basis on region, solution type, equipment type, type, application and industry.

Breakup by Solution Type:

Products
Services

Breakup by Equipment Type:

Heavy Construction Equipment
Compact Construction Equipment

Breakup by Type:

Loader
Cranes
Forklift
Excavator
Dozers
Others

Breakup by Application:

Excavation and Mining
Lifting and Material Handling
Earth Moving
Transportation
Others

Breakup by Industry:

Oil and Gas
Construction and Infrastructure
Manufacturing
Mining
Others

Breakup by Region:

North America:( United States, Canada)
Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico,Others)
Middle East and Africa

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